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is over. that's number one. number two, let's get back to the business of america and stocks going up in america as an asset looking very well on a longer term perspective. however, on a near-term basis, the market in our belief is well ahead of historical norms in terms of election years and fundamentally. next year things will look better. near term, i think a lot of participants could be surprised if we see a pullback from here because it's very consensus to think if romney wins the market is going to rally. well, it's already in the market. we would be concerned that we'd get a bit of a pullback near term. >> joseph, what do you think? in terms of putting money to work today, would you be buying into this rally or selling into it? >> i think part of the issue right now is not so much the election. it's really the fiscal cliff. the unfortunate thing is we really couldn't make any heads or tails as far as what's going to happen with this fiscal cliff until we get clarity from the election. i suspect between now and the end of the year, you'll see a lot more anxiety. there will be mo
. >> will america soon be the new saudi arabia when it comes to oil? it's not science fixction. it's happening quicker than what you might think. what will it do to gas prices at the pump? >> it is very good stuff. right now the markets hoping to start the week off on a positive note after that rough go since the election last week. the dow up just 12 points. again, very light volume. no bond trading today because of the veterans day holiday. not a lot of direction for the markets today. up a point and change for nasdaq. at 2906. apple and microsoft sort of impacting the market today. the s&p 500 is up 1 1/2 points at 1381. less than an hour to go, let's talk with stocks in the green. can we manage to kick off the week in a positive note after last week's big losses? uncertainty over the resolution of the fiscal cliff is going to see for the foreseeable future, until the end of the year, as investors weigh what to do about that. what is the investor to do now that the markets get out of the way? >> we have chris levy from blackrock, michael from penchant partners michael jaynes and bob pisani.
a reaction to the election, aren't we? >> of course you are. that's exactly what i predicted. listen, america is now facing austerity. it was europe's turn. now it's america's turn. austerity is very deflationary and very depressionary. there will be a recession in 2013. china has yet to bottom. we will have a recession now. >> so what are you going to do within your portfolio? >> listen, we are now selling defense. we're selling dividends. we're selling cyclical stocks. we're raising cash. we believe that you should not play russian roulette with your investments. you have to be careful here. when we get resolution on the fiscal cliff, and i'm sure there will be very early in 2013, then we'll go back into the market heavily. not until then. >> okay. jeff, in the meantime, you believe with obama remaining in position that ben bernanke's job is safe for the foreseeable future and that is inflationary, yes? >> i think the fact that we've had inflation, core inflation, outside of core inflation, food and energy prices have accelerated in the obama administration. ben bernanke has failed to reali
stories about fiscal cliffs and the end of the dollar and the end of america. so, when in doubt, do nothing. hide your cash, sit on the sidelines. but i think there's going to be a big plunger effect that could really unleash tidal waves of money as people start to see maybe there's some wonderful surprises, some electoral surprises that just aren't popular right now. >> what are you suggesting? >> i don't know. this nose does more than hold this mustache and glasses and i think it might be a electoral surprise for mr. romney. if that's the case -- >> you think romney wins -- >> i do. >> -- that will be a surprise and this market rallies on that win? >> i think the market rallies big. there will be a lot of money in motion. people will be moving on with decision-making. there's trillions of dollars just waiting for confirmation for a new course. >> todd, what do you think's going on right now? what do you think is going to happen tomorrow? >> well, you know, just -- i'm just going off historic returns. when a democrat wins market goes down, average 9.3%. if a republican wins they'll
battle. essentially, bank of america is offering to buy a bunch of mbia debt, which of course, mbia being a mortgage immunity bond insurer. this is to wall off a troubled unit and improve the finances of its parent company. if this goes through, mbia may not make good on a number of policies, including those owned by bank of america. so its stock taking a hit on that news. again, b of a buying the debt in order to block a change in the structure that could prevent it from paying off some of those policies. back to you, bill. >> all right, mary. thank you very much. heading toward the close here. prices for stocks are coming down. so are bridge prices. >> don't go anywhere. we have a huge show ahead on the "closing bell." stay with us. >>> coming up, bucket list. remember this? >> in terms of bringing down deductions, one way of doing that would be to say everybody gets -- i'll pick a number -- $25,000 in credits. >> the idea for a bucket to limit tax deductions may now be gaining momentum with democrats. is this a better idea than raising anyone's rate? we crunch the numbers and tell you
on passive versus active investing. >>> investment by corporate america is falling off a cliff because of so much uncertainty as we all know. but would all of that money really come off the sidelines? if a deal on the budget and taxes were made? we'll look at that coming up, both sides. >> stocks rallying just on the hopes a fiscal cliff might actually get fixed on time. what actually are investors optimistic about? all that and more coming up. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ snooi. >>> welcome back. about 45 minutes left in the trading session. we want to get you caught up on this market. best rally for u.s. stocks in a couple of months. the dow right now is still near the highs of the session with a gain of about 180 points. we're calling it the rise a
. tomorrow it will be all about jobs. the final labor report is due before america casts its vote for president on tuesday. donald trump is joining us now to talk on the phone about the market, the economy, and this election. donald, good to talk with you. thanks for joining us. >> hello, maria. >> how pivotal is tomorrow's jobs report on the election outcome? what do you think? >> i think it's going to be very important. i also think, flarankly that, t hurricane was a very, very positive thing for president obama. he's out there campaigning all over the place, standing in every puddle he can find. frankly, i think it's very, very positive for obama. it shouldn't be, necessarily, but it is politically speaking. >> why do you think the hurricane was so positive for the president? >> because it got everybody off of his record. people aren't talking about his record. people aren't talking about what he's done, what he hasn't done. people are talking about the hurricane and they see him standing with people that have serious problems. i mean, it was a very, very big problem. it was a
he's put america back on track. he has a track record of creating jobs. he helped save the american auto industry. our members all across this country are fired up and ready to go and turning out a vote. not just of themselves but their families, friends, communities, neighborhoods. >> so have you got whan you wte wanted in the last four years? there were some things that i think some of the unions were saying the president could have doubled down on. what would you like to see different or better if, in fact, we do see the president get re-elected? >> what we want is working people to be able to get this country back to working good jobs, making sure that everybody pays their fair share, as the president has been talking to the nation about. making sure we protect vital services like education and health care so that we can become globally competitive again. and we want to make sure that every immigrant has a pathway to citizenship. that's the vision that our members are spoupporting this president on for re-election. >> how do you do all that? i think it's become clear that it's f
is in a mosaic. first of all, we have to make america competitive. we have to get rid of some of the taxes these lobbyists deb e debate. >> my sources tell me the loopholes and exemptions leave $1 trillion on the table. >> let's go over the math. the math is that we as a country spend 3.7. we take in 2.7. 400 billion of that is from corporations. the notion of deferrals, defer now, pay later, is very fundamental. it's a 101 of a book plan. to the degree obama wants to make the united states more competitive, he's talked about a 28% minimum reduction in corporate taxes. he's talking about taking it down 25 for u.s. manufacturing. that's a very positive step. i don't have him talk abouting that at the moment, to create jobs, quality jobs. tax reform, raise taxes if you have to. raise revenues. lower the deficit. get us on with the dynamics of running a business. >> but here we are -- >> by the way, someone whispered to me as i was coming up, if these guys don't want to work in washington, they shouldn't get paid. i'm not going to subscribe to that premise -- >> so this person said to you un
in america. >> that's what we really need, isn't it? heading toward the close. they've been shopping for bargains on wall street. the dow down 63 point. i say just because it was 120. that was the number at the low of the session earlier today. we're well off that number. >> many investors left this stock for dead, hence why we're showing zombies. >> last year's cnbc christmas party. >> it has been resurrected. can you guess what company it is? find out if you should buy in or just let the stock rest in peace. >>> more and more democrats willing to jump off the fiscal cliff rather than take a deal they don't like? the house's top democratic tax writer thinks that's a really bad idea. find out when sandra levin joins us later on the "closing bell." [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along,
on. >> mall of america on black friday, that is the thick of it right there. >>> with the economy so uncertain because of the fiscal cliff will it be the discounter or the luxury retailer? >> that is the question we are asking our two guests. eddie roomer from key bank capital markets and eric vito. gentlemen, great to have you on the show today. eric, how do i play black friday and the future holiday season? >> if you look at it this is a bargain-driven season. i think the people taking advantages are the players with the best discounts. they did take advantage of lower raw material costs to lower pricing here. when you look at this, you get aggress erv, names like aeropostal and a company like new york and coach, spending two years on figuring out how to discount right. >> ed, how do the lux injure are retailers do? >> clearly this is the morning for the value price retailers action though we saw tremendous traffic at nordstrom. frankly the store was jammed. we thinks companies like nordstrom are well positioned. >> who is not well positioned. >> it kind of levels of expectations h
're focused on. the head of israel's central bank will weigh in on that and america's fiscal mess. he's with me exclusively coming up. >> looking forward to that. >>> plus, we'll head thrive israel for the latest on efforts to end the seven days of fighting coming up. >>> if you were not with us earlier today, fed chairman bernanke said that the fed does not have the tools to offset the worst case scenario of going over the fiscal cliff. >> his comments earlier, the market really impacted by his comments about the fiscal cliff before rebounding. as soon as mr. bernanke said they are out of tools and it's on congress, the dow went from down 17 points to down 70. since then, we have come all the way back. now we're down 24. look at this intraday chart. >> is there a floor under this market? i want to show you something. i was reading in the car coming down here today. this is the latest "time" magazine. this is an article in this week's issue that wonders why stocks are dead. why didn't they put it on the cover? that would have been the perfect contrary indicator. they ponder whether st
for this country. i don't think it's unfair, and it shouldn't be a scare tactic to ask corporate america and the wealthy to pitch in and help this country when this country needs the help. that's all. >> i don't understand when you say -- if you don't want to change medicare in any way, say means testing, what you mean is you want to subsidize the wealthy. the retiring generation right now is the wealthiest retiring generation in american history. you're asking young people to subsidize wealthy people who are retiring if you don't want to make key changes to medicare. you want to help the rich, not the poor? >> no, i don't think the scenario is that way. when you look at the people on medicare, when you look at people on medicaid, those are people that not only earn the benefit -- >> i didn't say medicaid, i said medicare. it's different, right? >> i think the vast, vast majority of people on medicare are people that have earned that benefit and are entitled to that benefit. and there has been -- >> so no changes? >> no changes, because at this point without any revenue generation to off
over ten years. you can't get there. alan simpson said, look, you can take every rich person in america, take away their island, their boat, tax everything, and you run the government for about nine months. the ugly truth and where the president has missed the boat, to this moment in time, is two-thirds of the federal budget is the middle class entitlements. you can't fix this problem without bringing the spending side to the tax side. all the talk today is about, oh, we get to -- these 2%, these 2%. it doesn't fix the problem. >> i think it's a shared sacrifice. how far are you willing to go on the tax issue? would you be willing to raise the rates, or are you only for getting rid of deductions? >> listen, i'm for a $5 trillion deal. but you don't get there. if you just raise the rates, you get $700 billion. you're still short $4.3 trillion. where's that going to come from? as soon as the president, you know, his proposal is $400 billion out of medicare over ten years. that's chump change. that's a rounding error. >> are you convinced that the democrats are willing to do things with me
be a terrible stain on the united states of america. if we didn't hear from our business community, not for profit community, our spiritual community, the folks that service the people, if they didn't become mad as hell and take this out of the hands of a handful of people in washington. we've gone too long and can't afford for our sky to fall. >> that's why we're asking you what to cut. we agree with that. >> congressman, good to see you. thank you for joining us today. appreciate it. >> thank you for having me back. >> you bet. charlie rangel of new york there. any moment now, we expect to hear from the democratic leader of the house nancy pelosi come out after her meeting with secretary geithner, who's been making the rounds on capitol hill today trying to hammer something out. it was after he met with tim geithner that john boehner made his comment same thing with harry reid. now we'll hear from nancy pelosi. we'll see if anything moves the markets she may say. that's coming up, so stay tuned for that. >> i don't mean to make light of this, but i feel like we're in an snl skit.
out of corporate america, again, which is another tax, so to speak, on business certainty. >> all right. we got to go, folks. at least we don't have to solve the problem. we have it left in somebody else's hands, unfortunately, right now. thank you both for joining us today. heading toward the close. the market holding steady right now. there's a rebalancing coming on the close today of a major in x index. we're expecting volatility. >> we should see some wild swings ahead. meanwhile, dollar general set to join the s&p 500 after the close of trading. that means you likely will own it as well if you own any etf linked to that index. is that good for your bottom line? we'll check it out. >>> also, have you seen this video yet? this could be one of the powerball winners finding out that he's a multimillionaire. i mean, he certainly seems happy. what exactly is the price of happiness? we've got the answer coming up. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets
Search Results 0 to 15 of about 16